DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 687 Original 2021 Regular Session Jenkins
Abstract: Creates the American Rescue Plan Act Small Business and Nonprofit Youth
Employment Fund (Employment Fund) as a special fund in the state treasury and provides
for the transfer and deposit of certain federal funds into the fund.
Proposed law creates the Employment Fund for the purpose of providing assistance to households,
small businesses, and nonprofits negatively impacted by the COVID-19 public health emergency.
Requires the treasurer to transfer and deposit into the Employment Fund $100 million received by
the state from the federal Coronavirus State Fiscal Recovery Fund established by the American
Rescue Plan Act of 2021 (P.L. 117-2).
Proposed law authorizes the treasurer to invest monies in the Employment Fund in the same manner
as monies in the state general fund. Further provides that interest earned on investment of monies
in the Employment Fund shall be credited to the Employment Fund. Unexpended and unencumbered
monies in the Employment Fund at the end of the fiscal year shall remain in the Employment Fund.
Effective upon signature of governor or lapse of time for gubernatorial action.
(Adds R.S. 39:100.101)